Renewal of Franchise.
Section 1
SECTION 1. Renewal of Franchise. – Subject to the provisions of the Constitution, the immediately succeeding section and applicable laws, rules and regulations, the franchise granted under Republic Act No. 7297, entitled "An Act Granting the ZOE Broadcasting Network, Inc. a Franchise to Construct, Install, Operate and Maintain Radio and Television Broadcasting Stations Throughout the Philippines, and for Other Purposes", as amended by Republic Act No. 7968, to ZOE Broadcasting Network, Inc., hereunder referred to as the grantee, its successors or assignees, is hereby renewed for another twenty-five (25) years from the effectivity of this Act.